module 1: saving budgeting and spending 1: saving, budgeting and spending time: 1 hour online and 2...
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Table of contents
About ASIC’s Be MoneySmart ................................................................................................................ 4
Overview .............................................................................................................................................. 4
Purpose of the workbook ................................................................................................................. 4
Audience .......................................................................................................................................... 4
Unit of competency supported ......................................................................................................... 4
Assessment ..................................................................................................................................... 5
Recognition of prior learning (RPL) ................................................................................................. 5
Student resources required for this module ..................................................................................... 5
Module 1: Saving, budgeting and spending ............................................................................................ 6
Assessment activity 1: What is your financial personality? ................................................................. 6
Assessment activity 2: What are your strengths and weaknesses? ................................................... 9
Assessment activity 3: What are your goals?.................................................................................... 10
Assessment activity 4a: What is your budget? .................................................................................. 13
Assessment activity 4b: Review your goals and budget ................................................................... 14
Assessment activity 5: How will you save your money? ................................................................... 15
Assessment activity 6: How will you invest your money? ................................................................. 16
Assessment activities summary ............................................................................................................ 17
Trainer/assessor templates ................................................................................................................... 18
Competency record ........................................................................................................................... 18
Assessment record sheet .................................................................................................................. 18
Supervisor/third party declaration ...................................................................................................... 25
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About ASIC’s Be MoneySmart
Overview
ASIC’s Be MoneySmart resource has five modules to help people develop the skills, knowledge and
behaviours required to effectively manage their own personal finances.
Module 1 – Saving, budgeting and spending
Module 2 – Personal tax
Module 3 – Superannuation
Module 4 – Debt management
Module 5 – Insurance
Each module comprises an online resource featuring the real-life stories of people who are working
through the challenges of managing their finances. A Trainer/Assessor Guide and Student Workbooks
support the modules.
You should refer to the copies of ASIC’s Be MoneySmart online modules provided by your training
organisation, or alternatively they can be found on ASIC's MoneySmart website at
moneysmart.gov.au/teaching.
Purpose of the workbook
This workbook is designed to be used in conjunction with ASIC’s Be MoneySmart online modules.
A teacher, trainer or workplace assessor can assess the completed activities.
Audience
These materials are designed for use by registered training organisations (RTOs) for vocational
education and training (VET) delivery and assessment. They may be used as part of an Australian
Apprenticeship, pre-apprenticeship or a pre-vocational program. However, they may also be used in
workplaces, schools, adult and community learning organisations or even as an adjunct to the
services provided by counselling and advisory organisations.
Unit of competency supported
These materials support the Be MoneySmart (FNSFLT301) unit of competency from the Financial
Services Training Package (FNS). This unit describes the performance outcomes, skills and
knowledge required to develop, maintain and enhance understanding of personal finance matters,
including taxation, superannuation and insurance.
The Be MoneySmart unit is an elective unit within the Certificate III in Financial Services Training
Package and can be imported for use in other training qualifications.
No licensing, legislative, regulatory or certification requirements apply to this unit at the time of
publication.
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Assessment
The assessment activities in this workbook relate to competency standards and are aligned with the
Financial Services Training Package (FNS) according to information provided by the official National
Register of Information on Training Packages, training.gov.au (TGA).
This workbook provides activities and advice to enable the student to supply the trainer/assessor with
the evidence required to demonstrate competency in Be MoneySmart (FNSFLT301), including the
ability to:
demonstrate knowledge of personal financial matters
set personal financial goals and access opportunities for mentoring or advice on them
access information to build on and maintain knowledge of factors affecting personal finances.
Once the student has completed the module and this workbook, they will need to arrange to complete
the oral assessment questions.
Templates for the trainer/assessor and the student to sign are at the end of this workbook.
Recognition of prior learning (RPL)
Students can use the assessment activities in this workbook to identify their current competency and
as evidence to support formal recognition of prior learning (RPL). Students might already have some
or all of the skills required for this unit. If students believe they can demonstrate these skills, they
should speak with their trainer/assessor about applying for skills recognition.
Student resources required for this module
Student Workbook
Computer and link to online module
ASIC’s MoneySmart Budget planner: moneysmart.gov.au/tools-and-resources/calculators-
and-tools/budget-planner
ASIC’s MoneySmart Savings goals calculator: moneysmart.gov.au/tools-and-
resources/calculators-and-tools/savings-goals-calculator
ASIC’s MoneySmart TrackMySPEND app (optional): moneysmart.gov.au/tools-and-
resources/calculators-and-tools/mobile-apps/trackmyspend
ASIC’s MoneySmart TrackMyGOALS app (optional): moneysmart.gov.au/tools-and-
resources/calculators-and-tools/mobile-apps/trackmygoals
Calculator
Copies of income and expenditure such as a pay slip, bills, loan repayment amounts,
TAFE fees and bank records.
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Module 1: Saving, budgeting and spending
Time: 1 hour online and 2 hours Student Workbook
Watch the videos at screens 2 and 3.
Assessment activity 1: What is your financial personality?
How you feel about risk will play a big part in how you save, how you invest and generally how you
manage money. We call this your financial personality. Understanding your financial personality will
help you make better saving and spending decisions.
Find out what your strengths and weaknesses are when dealing with money by completing the
‘Financial personality quiz’ below. Circle the answer to each question that most closely reflects your
own attitudes and experiences with money.
Financial personality quiz
Questions Answers
1. If I received an unexpected $5000 windfall, I would:
a. Spend the money on a shopping spree or a holiday.
b. Pay off some debts and put the rest towards a new car.
c. Put it in a high-interest account while I research ways of spending or investing it.
2. When I get my credit card statement, I normally repay:
a. Only the minimum – and then I re-spend that amount.
b. As much of the outstanding amount as possible.
c. The entire balance.
3. I am: a. Carefree with money – I enjoy today and let tomorrow look after itself.
b. Likely to overspend every now and then.
c. Always in control of my finances.
4. When an unexpected bill arrives in the post, I:
a. Shove it in a drawer with all the others.
b. Add it to my to-do list.
c. Check that it’s correct and pay it immediately.
5. Savings are: a. What savings? I spend every dollar that comes in.
b. There to pay for important things, such as a deposit for a car, holiday or home of my own.
d. Part of my monthly budget plan.
6. My monthly budget is: a. Budget – I never have enough money to go round!
b. Usually OK but I sometimes overspend.
c. Very occasionally a struggle but I generally stick to it.
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Questions Answers
7. I get worried when: a. I can’t buy what I want as soon as I see it.
b. I can’t afford to treat my friends and family.
c. I can’t identify all the transactions on my bank statement.
8. When I need to borrow or need extra money, I:
a. Take the first loan I’m offered – I never shop around.
b. Look at a couple of options and choose one that feels like the best deal.
c. Shop around for the best deals on credit cards and loans – I always read the small print on my credit contract.
9. I prefer to: a. Put everything on a credit card and think about it later.
b. Keep credit for major buys and use my debit card for everyday spending.
c. Use my debit card as much as possible, so I stay within my budget.
10. I’m most likely to blow the budget:
a. In a designer clothes shop or on sports or hobby equipment.
b. On a holiday with family or friends. I want everyone to enjoy themselves.
c. Overspend? Not if I can help it.
11. At any given time, I: a. Don’t know how much I owe and don’t want to think about it.
b. Can tell roughly what my debts amount to.
c. Know exactly what’s outstanding – and when it has to be paid.
12. The day before payday: a. My bank account is empty and I’m borrowing money from friends and family to get by.
b. I’m down to my last few dollars but have met all my expenses.
c. I still have money in the bank.
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Answer guide Financial personality
I answered mostly a Money Maestro
Money is for enjoying, as far as you’re concerned.
Just like Kaz, you may consider luxuries such as new computers, cars or designer clothes as modern essentials, which can make it hard to cut back. You will have a great time, though – until your overspending catches up with you. You need to remember that credit isn’t free cash and that all your bills ultimately have to be paid. You might want to avoid temptation, by saving a small but regular amount to pay off your debts – and learning to say no.
I answered mostly b Visual Stylist
Money is for sharing with others and for living a comfortable life.
Just like Will, you’re quite well organised financially but are likely to overspend when you’re stressed or unhappy – and you can excuse your extravagance if it’s designed to make other people happy. You might want to start saving little and often so you can afford to indulge those you love, drawing up a budget that prioritises essentials over treats – and learn to say no more often.
I answered mostly c
Authentic Dreamer
Money is for security – saving and investment.
Just like Sam, you’re more than capable of sticking to a sensible budget, making repayments on time and saving for the future. Consider learning about different types of investments so you can make sensible decisions with your savings. Seek advice from a qualified financial advisor if you need it.
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Assessment activity 2: What are your strengths and weaknesses?
Watch the videos at screens 2 and 3 again.
Using the information you have learnt about yourself from the ‘Financial personality quiz’, make a list
in the table below of what you think your strengths and weaknesses are in relation to savings,
budgeting and spending.
When you have completed this table, think about how you might overcome any of the weaknesses
identified. For example, Kaz stuck Bali pictures up all over her house to help her stay focused on
saving by visualising her goal for a holiday with friends. It is important to manage your money to
ensure you have all the things you need to do your job properly. We all have different values, needs
and goals, which is why each of us has to come up with our own plan.
Strengths Weaknesses
Example: I am good at saving money.
Example: I spend too much money on things that are not essential.
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Assessment activity 3: What are your goals?
Watch the videos at screens 4.
Now that you know your financial personality and have identified your strengths and weaknesses in
relation to money, it’s time to set some goals!
What do you want from life? Your goals may change at different stages or events in your life. Perhaps
you have a short-term goal you want to achieve in the next year or two, and a long-term goal that
could take you seven or more years to reach. For example, Will’s short-term goal is to travel around
Europe with friends at the end of the year. Some of Sam’s long-term goals include taking his family
overseas, and running his own business.
You may or may not have goals, or maybe haven’t even thought about setting some for yourself. Let’s
go through the process of goal setting now so you know how to do it in the future. Using the SMART
goal-setting process outlined in the online module, write down a short-, medium- and long-term goal in
the tables below to work out what is realistic and affordable. List at least one in each category.
SMART goal-setting guide
Specific – What exactly are you trying to achieve?
Measure – What does it cost?
Achieve – Can you achieve this goal? Are you earning an income?
Realistic – Be honest with yourself. Is it realistic?
Time – What is the timeframe?
Tip:
Can’t think of any goals?
If you can’t think of any goals for yourself then use Sam’s or Kaz’s goals.
Sam
Short-term: saving for Christmas presents
Medium-term: saving a deposit to buy his own home
Long-term: retire comfortably at the beach
Kaz
Short-term: saving for a trip to Bali
Medium-term: buying a small new car
Long-term: saving a deposit for a home
If you have more than one short-, medium- or long-term goal, you might like to re-create the
SMART goal-setting process for your remaining goals on a separate piece of paper.
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My goals
Short-term goal
What is your short-term goal? Example – I want a new TV.
What does it cost? Example – I need to save $1600.
Do you have the means to achieve this goal? Example – I’m earning so I can save if I work out a budget.
Is this goal realistic? Example – I can save $30 a week if I cut back on other expenses.
What is your timeframe to achieve this goal? Example – 12 months
Medium-term goal
What is your medium-term goal?
What does it cost?
Do you have the means to achieve this goal?
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Medium-term goal
Is this goal realistic?
What is your timeframe to achieve this goal?
Long-term goal
What is your long-term goal?
What does it cost?
Do you have the means to achieve this goal?
Is this goal realistic?
What is your timeframe to achieve this goal?
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Assessment activity 4a: What is your budget?
Watch the videos at screens 5 to 7.
Now that you know your financial personality and have worked out your goals, it’s time to work out
what your budget looks like!
Using ASIC's MoneySmart Budget planner, create a personal budget that’s tailored to you, is realistic,
and that you can alter as your circumstances change. If you are not comfortable using your own
personal financial data, you can change the figures. However, make them realistic so you can get a
sense of what budgeting requires.
Remember – when budgeting, think about what you need (a roof over your head, food and water,
health care and hygiene, some clothes) versus what you want (a big house, brand-name clothes,
fancy food and drink, a new car).
Go to moneysmart.gov.au/tools-and-resources/calculators-and-tools/budget-planner and complete
ASIC's MoneySmart Budget planner. As an alternative, you can arrange to access and download the
Excel version at the same website location.
Tip:
Review your budget
Creating a budget is not a one-off event – review it regularly, especially if your circumstances
change (increased rent, pay rise, etc.).
You will need to calculate your income and financial commitments using the same timeframe.
It may be easier to use your pay cycle to budget. If you get paid fortnightly, work out your
financial commitments, such as bills, by working out how much you need to put aside
fortnightly.
Use ASIC's MoneySmart TrackMySPEND app
If you find it hard to work out your daily or incidental expenses, go to the App Store or Google
Play and download ASIC's MoneySmart TrackMySPEND app (smart phone required) to track
your spending over a week.
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Assessment activity 4b: Review your goals and budget
Watch the videos at screens 5 to 7 again.
Now that you have completed a budget and have a more accurate idea of your income, expenses and
how much you can save, review the goals that you set in Assessment activity 3. Do you need to
review your budget to achieve your goals? Or do you need to adjust your goals to make them
realistic? Go back through your budget and goals if needed.
For example, after completing her budget, Kaz realised that she was left with a yearly shortfall of
$2376. This meant that in order to achieve her short-term goal of travelling to Bali with her friends,
she would have to cut her spending on clothes to $100 a fortnight. This adjustment to Kaz’s budget
meant that she would now be left with a surplus of $224 instead.
If you are like Kaz and love to shop, before blowing your budget, ask yourself the following questions:
Do I really need it?
Will I really use it?
What would happen if I did not have it?
Will I still like it next month/year?
If I don’t buy it now, do I want it enough to make a special trip later to get it?
Tip:
Review your goals with ASIC's MoneySmart TrackMyGOALS app
To help achieve your goals ASIC's MoneySmart TrackMyGOALS app allows you to set, track
and manage multiple savings goals and visualise your actual progress towards them. Go to the
App Store and download ASIC's MoneySmart TrackMyGOALS app (smart phone required).
Enter your goals and the date you’d like to achieve them by. Find out how much you’ll need to
put aside with each pay to get there, then watch your savings grow and your goals become
reality.
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Assessment activity 5: How will you save your money?
Watch the videos at screen 8.
Now that you know your short-, medium- and long-term goals, and you have worked out a budget, the
next step is to figure out a savings or investment plan to achieve them.
Using the table below, identify some ways in which you could save money to reach your goals. In
doing this it may be helpful to reflect on your strengths and weaknesses in relation to money.
You could also use ASIC’s MoneySmart Savings goals calculator. Go to moneysmart.gov.au/tools-
and-resources/calculators-and-tools/savings-goals-calculator. ASIC's MoneySmart Savings goals
calculator will help you work out how long it will take to reach your savings goals and the steps to take
to put your plan into action.
One way to save How much will this save per week?
How much will this save per month?
How much will this save per year?
Example – Take my
lunch to work
$50 $215 $2600
Tip:
Online banking
Online banking is the best and easiest way to manage your day-to-day spending, as well as
your savings. When using online banking, make sure you implement safe e-security practices
such as keeping your account PIN and passwords private.
Revisit your budget
Now that you have identified ways to save money, you can use your budget as a tool to trim
low-priority expenses to create an even bigger surplus.
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Assessment activity 6: How will you invest your money?
Watch the videos at screen 8 again.
As well as saving money to achieve your goals, it might be appropriate to ‘invest’ your money in order
to achieve your medium- and/or long-term goals. Investing money means that your objective is to
make your money grow without taking unnecessary risks.
Having identified some of your medium- and long-term goals, make a list of some of the ways you
could invest any budget surplus.
There are plenty of steps that you can take to grow your money and keep it safe. Go to ASIC’s
MoneySmart website at moneysmart.gov.au/investing for some helpful tips on investing before you
make your list.
Notes
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Assessment activities summary
Comments
Trainers or assessors should use this template to record details of any issues/feedback they
wish to provide to the student in relation to their responses to the assessment activities.
Alternatively they can record feedback next to the appropriate activity in the body of the
Student Workbook.
I declare that completion of the assessment activities in this Student Workbook is my
own work.*
* Students need to arrange for this Student Workbook to be submitted to their trainer/assessor
for signing.
....................................................... ....................................................... ....................
Student name Student signature Date
....................................................... ....................................................... ....................
Trainer/assessor name Trainer/assessor signature Date
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Trainer/assessor templates
Competency record
After assessment the competency record should be completed and signed by the student,
trainer/assessor and the supervisor. If competency is not achieved at the first attempt, strategies to
address gaps in performance need to be identified and a time for reassessment arranged.
Assessment record sheet
FNSFLT301 Be MoneySmart
Element Performance criteria Evidence provided/ observed/context
Initial and date
1. Demonstrate an understanding of personal financial matters
1.1 Determine how career choice, education and skills affect income and goal attainment
Module 1: A3, Q2
1.2 Identify short- and long-term financial goals
Module 1: A3, Q2, Q6
1.3 Identify tax matters relating to personal income
Module 2: A1a, A1b, A2a, A2b, A3, Q1, Q2, Q3, Q4, Q5, Q6, Q7
1.4 Evaluate impact of consumer and financial behaviour on personal spending
Module 1: A1, A2, Q5
Module 4: A2b
1.5 Evaluate how insurance and other risk-management strategies protect against financial loss
Module 5: A1a, A1b, A2a, A2b, A2c, A3, Q1, Q2, Q3, Q4, Q5, Q6
1.6 Identify the components of superannuation relevant to individual income earners
Module 3: A1, A2, A3a, A3b, A4a, A4b, A4c, A5, Q1, Q2, Q3, Q4, Q5, Q6
2. Manage personal finances
2.1 Compare the benefits and costs of alternatives in spending decisions
Module 4: A1, A2a, A4, Q3, Q4
2.2 Identify the purpose of planning personal finances
Module 1: A4a, A5, Q3, Q4
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Element Performance criteria Evidence provided/ observed/context
Initial and date
2.3 Make personal financial choices based on logical decision-making
Module 1: A4a, A5, A6, Q4
Module 3: Q2
Module 4: A2a, A2b, A4, A5
2.4 Evaluate the consequences of personal financial decisions, including contracts
Module 4: A2a, A4, Q2, Q4
2.5 Develop methods and systems (including electronic) to stay in control of personal cash flow, spending and use of debt
Module 1: A4a, A5, Q1
Module 2: A1a
Module 4: A5, Q5
3. Build knowledge of personal financial matters
3.1 Explore and evaluate factors that affect personal credit worthiness
Module 4: A2b, A3a, Q1
3.2 Seek advice from a specialist or mentor where required
Module 1: A1, Q5
Module 2: A1b, A2b, A3
3.3 Develop systems for maintaining up-to-date knowledge about personal finances and career opportunities to achieve goals
Module 1: Q5
Module 3: Q5
3.4 Identify reliable sources of ongoing information relevant to personal career and financial goals
Module 1: Q5
Module 4: A5
Critical aspects for assessment Evidence provided/ observed/context
Initial and date
Evidence of the ability to demonstrate knowledge of personal financial matters
Module 1: A1, A2, A4a, A4b
Module 2: A2a, A2b
Module 3: A3a, A4
Module 4: A4, A5, OA
Module 5: A1a, A1b, A3
20
Critical aspects for assessment Evidence provided/ observed/context
Initial and date
Evidence of the ability to set personal financial goals and access opportunities for mentoring or advice on them
Module 1: A3, Q2, Q6
Module 3: A1
Evidence of the ability to access information to build on and maintain knowledge of factors affecting personal finances
Module 1: A4a, A5, A6, Q5
Module 2: A3, A4
Module 3: A2, A3a, A3b, A4a, A4b, A5, Q5
Module 4: A1, A2a, A2b, A3a, A3b, A5
Module 5: A1a, A2a, A2b, A2c, A3
Required skills Evidence provided/ observed/context
Initial and date
Numeracy and technology skills to:
Calculate interest and loan repayments and surplus or deficit funds
Module 4: A1, A2b, A3a
Use a calculator, budget and loan calculator tools Module 1: A4a, A5
Module 2: A2b, Q6, Q7
Module 3: A3a, A3b, Q6
Module 4: A1, A2a, A2b, A3a
Module 5: A2a, A2b
Use internet information Module 1: A4a, A5, A6
Module 2: A3, A4
Module 3: A2, A3a, A3b, A4a, A4b, A5, Q5
Module 4: A1, A2a, A2b, A3a, A3b, A5
Module 5: A1a, A2a, A2b, A2c, A3
Implement safe e-security practices for online banking and transactions
Module 1: A5
Self-management skills to:
Manage cash flow to pay bills on time Module 1: A2, A4a, A4b
Develop and use a budget to control income and expenses
Module 1: A4a
21
Required skills Evidence provided/ observed/context
Initial and date
Create a savings and spending plan to achieve financial goals
Module 1: A4a, A5, A6
Module 4: A2b
Learning skills to maintain knowledge of budgeting and saving techniques
Module 1: A4a, A5, A6
Module 4: A2b
Required knowledge Evidence provided/ observed/context
Initial and date
Debt management:
Responsible use of credit Module 4: A2a, A3a, Q3
Advantages of debit cards Module 1: Q1
Module 4: A2a, A2b, Q5
Consequences of debt default Module 4: A3a, A5, Q4
Attitude towards credit and spending Module 1: A1
Module 4: A4
Options for debt repayment:
VET Fee-Help Module 4: A2a
Personal loans and payment plans Module 4: A1, A2a, A3a, A4, Q3
Employee entitlements under:
Fair Work Act Module 3: A3
Equal opportunity legislation Module 3: A3
Superannuation Act Module 3: A3
Income Tax Assessment Act Module 2: A3
Taxation Administration Act Module 2: A3
Credit history and saving:
How to establish and maintain a good credit history Module 4: A3a, A4, A5, OA, Q1
Importance of saving money as a concept to assist and improve life situation
Module 1: A5
Module 4: A2b, A4
Insurance matters:
Value of insurance Module 5: A1a, A1b, A2a, A2b, A2c, A3, Q5,
22
Required knowledge Evidence provided/ observed/context
Initial and date
Q6
Disclosure obligations Module 5: A2c, A3
Suitable insurance covers:
Personal income Module 3: A2, A4c
Module 5: A3
Trade tools, including mobile phone Module 5: A3, Q6
House Module 5: A2a, A2b, A2c
Car Module 5: A1a, A1b, Q5
Health Module 5: A3, Q4
Personal implications of taxation matters:
Role of the Australian Taxation Office and why we pay tax on income
Module 2: A2a, A3
Personal tax liabilities and allowable deductions Module 2: A2a, A2b, A4, Q1, Q2, Q3, Q4
Tax rates Module 2: A2a, Q3
Lodgement dates Module 2: A3, Q5
Awareness of goods and services tax (GST), pay as you go (PAYG), Australian business number (ABN), tax file number (TFN) and business activity statements (BAS)
Module 2: A4
Principles of budgeting, cash flow and saving, including:
Role of credit and savings in establishing personal wealth
Module 1: A4a
Module 4: A2b, Q2, Q3, Q4, Q5
Understanding of financial institutions and their savings, investment and credit products
Module 1: A5, A6
Module 4: A2a, A2b, A3b, A4
Personal financial aspects of:
Bank accounts:
Savings Module 1: A5
Module 4: A2b
Credit Module 4: A2b, A3b, Q2, Q3, Q4, Q5
23
Required knowledge Evidence provided/ observed/context
Initial and date
Investment Module 1: A6
Insurance:
Health Module 5: A3, Q4
Car Module 5: A1a, A1b, Q5
Phone Module 5: A3, Q6
Warranty Module 5: A3
Tools Module 5: A3
Household Module 5: A2a, A2b, A2c, Q3
Income protection Module 3: A2, A4c
Module 5: A3
Superannuation:
Types of funds – retail versus industry Module 3: A2
Fund options – death or total and permanent disability (TPD) insurance
Module 3: A1, A2
Contracts:
Phones Module 4: Q1
Data Module 4: A5
Tenancy Module 4: A5
Finance Module 4: Q2
Superannuation matters:
Planning for the future Module 3: A1
Power of compound interest Module 3: A3a, Q4
Module 4: A2b
Superannuation guarantee Module 3: A3a, Q1, Q6
Co-contributions Module 3: A3a, A3b
Personal contributions Module 3: A3a, A3b, Q2, Q3
Fees and charges Module 3: A1
Value of consolidating super funds Module 3: A5
24
Required knowledge Evidence provided/ observed/context
Initial and date
Locating lost super Module 3: A4a, A4b, Q5
25
Supervisor/third party declaration
I confirm that I have observed the student perform the tasks associated with the elements,
performance criteria, critical aspects for assessment and required skills and knowledge for
this unit efficiently and consistently over the allocated timeframe.
........................................................ ....................................................... ...................
Supervisor/third party name Supervisor/third party signature Date
Assessor declaration
I confirm that I have observed the student demonstrate the skills associated with the
elements, performance criteria, critical aspects for assessment and required skills and
knowledge for this unit competently.
........................................................ ....................................................... ...................
Assessor name Assessor signature Date
Student*
........................................................
Student name
* Students need to arrange for this Student Workbook to be submitted to their
trainer/assessor for signing.
ASIC’s MoneySmart Teaching initiative builds the consumer and financial literacy capabilities
of young Australians by developing knowledge, skills, values and behaviours to enable them
to make confident, informed consumer choices and responsible financial decisions that are
essential to their future financial wellbeing. To access more ASIC's MoneySmart Teaching
packages, resources, calculators, apps and consumer information visit moneysmart.gov.au.